Monthly Archives: April 2015

Charitable Gifts Involving Private Company Shares or Real Estate

Earlier this week, the federal government released its 2015 budget. The budget contains a number of proposals to amend the Income Tax Act, and also provides updates regarding previously announced tax measures. One of the proposed changes announced in the budget will be especially relevant to donors and registered charities.

Currently, when capital property is donated to a registered charity, the donor is generally entitled to a donation tax credit (if the donor is an individual) or deduction (if the donor is a corporation). However, unless the donor is eligible for an exemption, the donor also realizes a capital gain on the disposition of the property, which is subject to tax. The Income Tax Act includes exemptions from capital gains tax where the capital property donated is a gift of ecologically sensitive land, certified cultural property or publicly listed securities, but there is no capital gains exemption for gifts of real estate or private company shares.

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Week of April 20, 2015 on ILNToday – A Roundup!

We’re almost at the end of April (although it feels like winter outside), and it’s been another busy week here at the ILN. Our delegates are signing up like wildfire for our Annual Conference in Sicily at the end of May (can’t wait!) and we’re deep into planning our European Regional Meeting which will be in Glasgow in September. We’ve got a record turnout for next Monday’s IP group lunch, and our firms are churning out thoughtful content left and right.

On that note, here’s a roundup of this week’s articles from ILNToday:

 

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ILN Today Post

Shared parental leave

An employee (Mr X) has informed us that he intends to take an extended period of time off work to help to care for his baby when he/she is born in May. How should we respond to this request?

Eligible employees were previously entitled to take either one whole week’s or two consecutive weeks’ ordinary paternity leave (OPL) within 56 days of a child’s birth or placement for adoption and a further period of additional paternity leave (APL), of between two and 26 weeks in length, which was required to start 20 weeks, and end 12 months, after the child’s date of birth or placement for adoption. More…

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ILN Today Post

Cinemas as ACVs?

This article was previously published in Screentrade Magazine on 1 March 2015

Once closed, how may cinemas become ACVs, or ‘assets of community value’? What does it mean anyway, and what are the limitations and likely realities when enabling community groups to bid for these properties? 

There have seen some recent high profile examples recently of local community groups, taking advantage of a right enshrined in the Localism Act 2011, to apply for historic local buildings to be listed as an ‘asset of community value’ (ACV). This right, existing since September 2012, has been enthusiastically embraced by local communities. And whilst pubs have received more applications than any other type of building, cinemas – such as the Bexhill Playhouse, the Crystal Palace Rialto and the Stockport Savoy – have also been nominated. Once listed, the owner is unable to sell or lease the building for five years without first notifying the community group. There then follows a six-month moratorium, during which the owner may continue to market the property but it will be unable to sell (or lease) it to anyone other than the community group until the six month period is up. The moratorium is designed to give the community group time to raise finance to purchase the property. More…

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ILN Today Post

HOMS Dublin Office Move (24.4.2015)

HOMS are delighted to announce that on Tuesday, the 28th April 2015, our Dublin office is moving from its current location at 16 Hume Street to larger premises at 2 Ely Place in order to facilitate the ongoing growth and expansion of our Dublin practice.

We initially opened our Dublin office in March 2009 at 14 Hume Street with a view to targeting institutional banking and recovery work and institutional financial lines defence w …To View Entire Article  CLICK HERE…

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DAVIS MALM ASSISTS LONG-TIME CLIENT POSTWIRE WITH SOCOCO MERGER

Davis Malm shareholder Sam A. Mawn-Mahlau and David M. Rogers, of counsel, represented long-time client Postwire, a provider of content curation solutions for personalized information sharing, in its recent merger with Sococo, a real time collaboration solution provider that creates a virtual office space for companies. Cliff Pollan, the CEO of Postwire, will take on the role of CEO of Sococo.

Similar to Postwire, Sococo’s mission is to transform information sharing and collaboration in a way that supports effective and successful working relationships. By combining the engaging and highly fluid live collaboration capabilities of Sococo with the powerful information curation and personalization capabilities of Postwire; the newly merged company now encompasses all forms of business communications to help strengthen business relationships and work processes.

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Tax Alert: Last chance to take tax credit

The deadline of April 30 is fast approaching for employers to take advantage of the Work Opportunity Tax Credit (WOTC) for 2014. This credit is available to employers that hire individuals who are members of certain designated target groups, generally economically or physically disadvantaged persons and qualified veterans. Although the WOTC expired at the end of 2013, last year’s tax extenders legislation retroactively provided the credit for employees who began work before Jan. 1, 2015.

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McDonald Hopkins Government Strategies: This Week in Washington — April 24, 2015

On Thursday, the Senate – by a vote of 56 to 43 – finally voted to confirm Loretta Lynch as attorney general. Lynch replaces Eric Holder.

Forty-four Democrats and two independents voted in support of Lynch, while 10 Republicans, including Senate Majority Leader Mitch McConnell crossed party lines to back her confirmation. Republican Senators Kelly Ayotte, Thad Cochran, Susan Collins, Jeff Flake, Lindsey Graham, Orrin Hatch, Ron Johnson, Mark Kirk, and Rob Portman also voted for Lynch.

Lynch will become the 83rd attorney general and the first African-American woman to hold the post. Democrats have vocally supported Lynch and seized on her delay in confirmation to accuse Republican leadership of slow-walking the nomination to spite the president.

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Clark Wilson wins appeal for Brenhill Developments

We acted for Brenhill Developments in today’s successful appeal of a January 27, 2015 BC Supreme Court decision that quashed a rezoning for a 36 storey mixed use tower and development permit issuance for a 13 storey social housing building in downtown Vancouver.

Construction of the social housing building was well under way at the time of the lower court decision. Brenhill obtained an order in February 2015 for the expediting of the appeal, which dealt with such issues as public hearing disclosure, and how the Court should respond to challenges commenced long after Approval in Principle is granted for the rezoning Development Permit Board approval for the permit.

Peter Kenward and Andrew Dixon worked to bring the appeal to a successful and speedy conclusion. Read a recent news article on the decision.

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Pizza-boykot i strid med konkurrenceloven?

JUST EAT er en internetportal, som giver mulighed for bestilling af take-away mad i hele landet. Restauranterne betaler bl.a. et gebyr af hver ordre, som formidles gennem portalen. JUST EAT har nu angiveligt hævet dette gebyr til 12 % pr. ordre.

Det er en række pizzariaer m.v. stærkt utilfredse med. De er derfor begyndt at opsige deres aftaler med JUST EAT og har dannet en Facebook-gruppe under navnet ”Boykot JUST EAT”. En talsmand tilkendegiver desuden, at der vil blive dannet en forening, som angiveligt skal etablere en ny portal som alternativ til JUST EAT.

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